Bitcoin’s Short-Term Breakout Could Lead to a Bounce

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In Brief
  • The Bitcoin price has broken out from a short-term descending resistance line.

  • There is minor support at $9,050.

  • The daily bias appears bearish.

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On June 29, the Bitcoin (BTC) price broke out from a short-term descending resistance line. This could have been the beginning of an upward move that takes the price towards $9,300-$9,400. However, the longer-term outlook is still bearish, and BTC is expected to eventually decrease towards the range low. Short-Term Bitcoin Breakout The Bitcoin price had been decreasing alongside a

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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